Beijing Starts Testing of Digital Yuan During Winter Olympics
(Baidu) China has started testing its central bank digital currency at the 2022 winter Olympics, moving ahead of its global peers. The digital yuan or eCNY is being offered to…
Digital Yuan Pilot Version Availed on Apple and Android App Stores
(People’s Daily) China is edging closer to the rollout of a digital yuan after launching a pilot version of the currency, which can be downloaded on Apple and Android App…
China’s Service Business Activity Moves From Contraction as Index Hits 53.4 in Sept.
(IHS Markit) China’s Business Activity Index moved from a contraction level of 46.7 in August to an expansion of 53.4 in September, reflecting robust improvements in service businesses. The mark-up…
China Wants Banks to Increase Energy Sector Lending Amid Power Crisis
(Bloomberg) China has ordered its financial institutions to increase lending to the energy sector firms to ease the power shortage this winter. The China Banking and Insurance Regulatory Commission says…
China’s Hidden Local Government Debt is More Than Triple From 2013 – Goldman
(Bloomberg) The hidden debt held by China’s local governments stood at 53 trillion yuan or $8.2 trillion at the end of 2020, more than triple from 16 trillion yuan in…
PBOC Comes to the Rescue of the Financial System with $14B Cash Injection
(Bloomberg) The People’s Bank of China injected 90 billion yuan or $14 billion on Friday in the banking system to address the funding crisis and the Evergrande debt problem. Fig:…
China’s Property Sector Cools Amid Tighter Regulations
(NBS) China’s new annual home prices grew at the slowest pace in August since January, following tighter regulations. Property investment grew the slowest in 18 months. The average new home…
Xu Ming, a Former Regulator, will Head the Newly Formed Beijing Stock Exchange
(SCMP) Xu Ming has been appointed to head the Beijing Stock Exchange, which was created to cater to small and medium-sized enterprises. Xu has worked at the China Securities Regulatory…
China Seeks Tough US Listing Rules for Firms that Handle Sensitive Data
(WSJ) China Securities Regulatory Commission is planning to bring a new proposal that will limit companies with sensitive consumer data from going public in the US. Officials from the commission…
PBOC Fuels Speculation after Hinting at Policy Rate Cut to Boost Rural Economy
(Bloomberg) Analysts are speculating that China’s central bank will cut rates on Friday after it hinted at the policy move to spur rural finance in a slowing economy. The statement…
Wall Street to Bypass Washington in High-level Talks with Beijing
(Bloomberg) A group of Wall Street business leaders is planning high-level meetings with officials drawn from the Chinese government amid strained relations with Washington. The meetings are set to discuss…
Taliban’s Reign May Allow Beijing to Exploit Afghan’s Rare Metals-Analysts
(CNBC) Analysts are warning that the Taliban’s reign in Afghanistan may allow China to exploit its rare metals, which are estimated to run into trillions of dollars. Alliance Bernstein director…